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Q3 ‘22: Honor: Resilient Journey Slowed Down

by Peng Peng | Nov 04, 2022

Honor's resilient journey slowed down in Q3 2022. Its global smartphone shipment fell annually since its split from Huawei, for the first time ever. However, the Chinese brand still outperformed the industry average and ranked 7th largest smartphone vendor globally. Its worldwide marketshare increased from one year ago.

In this quarter, Honor only launched four new X series phones, including X40 and X40i for China, and X8 (5G) and X6 for overseas market. X series remained the largest contributor to the total volume while Number series' share dropped YoY significantly, which made Honor's wholesale ASP and revenue posted mixed performance. Although Honor's entry-tier series Play and Changwan combined took less volume share in Q3, Honor has a long way to go in inheriting the high-end market left by Huawei. Honor should continue to enhance the presence in premium markets by launching more innovative products.

China remained as the butter and bread for Honor. However, according to our Smartphone Country Share Tracker (SCST) service, Honor yielded its top position to vivo in its domestic market in this quarter. 

There was no improvement in the overseas market ratio in this quarter for Honor. Despite difficulties such as scaling back from India and other SEA markets (except Malaysia), Honor should actively seek expansion in these markets with less geopolitical tensions, such as Central & Latin America and Africa Middle East. Before Huawei’s withdrawal, overseas market used to make up 20%-25% of Huawei’s shipment in 2018-2019. 

Strategy Analytics has employed its SA Lens to evaluate vendors and compare them with their peers. Strategy Analytics evaluated Honor’s performance in Q3 2022 in the following five categories:

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